Aiming_4_55
Thinks s/he gets paid by the post
Looking for some advice on Mom's Roth IRA. Mom is in her late 60's, lives on her spousal social security (waiting to claim her SS at age 70 which increases monthly income about $600) and rental income (surplus of $2k each month that goes into CD savings/I Bonds) that I bought her in the 90's. No traditional IRA funds.
In the last few months, I've consolidated her accounts over to Vanguard, about $50k. She told me countless times to just take the money and enjoy it. I don't want to touch it until after she passes (in about 50 years I hope). I will just invest it and let it grow tax free. The Roth would pass onto me when she passes.
Here's the question, how should I invest it.... consider it part of my asset allocation (85% stocks, 15% bonds/cash, plus about the same value in real estate) or just do Vanguard total stock market index? or do the pssst Wellesley, or split Wellesley/Wellington, or split between large, mid, small caps? It's been sitting in a money market fund for the last several years or so. Honestly, the amount wouldn't impact my AA much at all, but I haven't spent much time thinking about it. I don't believe it would change my thoughts on FIRE for me/my family at this time.
The intent is to rarely think about it in my lifetime, if possible and pass it onto my kids in 50-60 years! Hoping it doubles every 8 - 12 years or so.
Thanks for your ideas?
In the last few months, I've consolidated her accounts over to Vanguard, about $50k. She told me countless times to just take the money and enjoy it. I don't want to touch it until after she passes (in about 50 years I hope). I will just invest it and let it grow tax free. The Roth would pass onto me when she passes.
Here's the question, how should I invest it.... consider it part of my asset allocation (85% stocks, 15% bonds/cash, plus about the same value in real estate) or just do Vanguard total stock market index? or do the pssst Wellesley, or split Wellesley/Wellington, or split between large, mid, small caps? It's been sitting in a money market fund for the last several years or so. Honestly, the amount wouldn't impact my AA much at all, but I haven't spent much time thinking about it. I don't believe it would change my thoughts on FIRE for me/my family at this time.
The intent is to rarely think about it in my lifetime, if possible and pass it onto my kids in 50-60 years! Hoping it doubles every 8 - 12 years or so.
Thanks for your ideas?